BTC parabolic rise could lead to 20k in extreme case
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I don't think that yesterdays dump was the end of this parabolic rise. BTC stabilized too fast for it being the end of this move.
Plus, the perfect parabolic shape is just too painfully obvious to ignore.
I see two important resistance zones, the upper monthly bollinger band at 12-13k, and the ATH resistance at 20k.
There are of course other resistances, but those two are very strong.
So, in the most bullish case, BTC could indeed go to 20k by the end of June.
Then a few months of sideways after the dump, and drawing a nice giant cup and handle with the ATH.
In the normal bull case, we'll see 12-13k as the intermediary top, dump to 7-8k, and consolidate at these levels until the upmove resumes.
This all is highly interesting, and we could see BTC do something which it has not done before.
A move to 20k directly from here, would not have a precedent, there is no fractal which is similar from the timing and velocity of the move.
I find it highly fascinating. But the parabola still has one hole month left until going vertical, and we all know what can happen in one month :)
Plus, the perfect parabolic shape is just too painfully obvious to ignore.
I see two important resistance zones, the upper monthly bollinger band at 12-13k, and the ATH resistance at 20k.
There are of course other resistances, but those two are very strong.
So, in the most bullish case, BTC could indeed go to 20k by the end of June.
Then a few months of sideways after the dump, and drawing a nice giant cup and handle with the ATH.
In the normal bull case, we'll see 12-13k as the intermediary top, dump to 7-8k, and consolidate at these levels until the upmove resumes.
This all is highly interesting, and we could see BTC do something which it has not done before.
A move to 20k directly from here, would not have a precedent, there is no fractal which is similar from the timing and velocity of the move.
I find it highly fascinating. But the parabola still has one hole month left until going vertical, and we all know what can happen in one month :)
Nota
We're still perfectly in the parabola:Upward pressure is resuming a bit. But that's still not very strong, we need a stronger push to confirm resuming the upward trend to the next big resistance area at 12-13k.
After that, let's see if btc wants to dump, or if it indeed wants to push for 20k.
Nota
The parabola shifting towards a lower aggressiveness and therefore longer until we continue the rally:Nota
If this dump goes below 7000, and there are good chances it will, we'll probably go back to the 2012 fractal view:
This means a few months of consolidation until uptrend continues.
Nota
So the parabola here is still active, even though BTC rested a bit longer, therefore prolonging the parabola a bit:But this means we could pump even higher.
See my gold chart comparison as a hint of how high we could go.
THIS BEAST WON'T SLOW DOWN !!! XD
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